How large are road traffic externalities in the city? The highway tunneling in Maastricht, the Netherlands

Joep Tijm (), Thomas Michielsen, Peter Zwaneveld () and Raoul van Maarseveen
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Joep Tijm: CPB Netherlands Bureau for Economic Policy Analysis
Peter Zwaneveld: CPB Netherlands Bureau for Economic Policy Analysis

No 379, CPB Discussion Paper from CPB Netherlands Bureau for Economic Policy Analysis

Abstract: Infrastructure projects are increasingly aiming to improve liveability, in particular in urban areas. We analyse a specifi c case in which an existing highway in an urban area was moved underground in order to improve intercity traffic flows and to reduce traffic externalities. As travel times within the city hardly changed, this allows for a clean identification of the value of traffic externalities. We find that the liveability benefits of such integrated infrastructure are substantial relative to the construction costs. Each halving of distance to the tunneled segment is associated with 3.5% more appreciation in house prices since the start of the project.

JEL-codes: J24 J31 R12 (search for similar items in EconPapers)
Date: 2018-05
New Economics Papers: this item is included in nep-eur, nep-ppm, nep-tre and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:cpb:discus:379

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